Recent episodes in which Fed officials hinted at a shift toward higher interest rates have unleashed significant volatility in markets.
ALAN GREENSPANEnhances a person’s ability to handle the more ambiguous and qualitative relationships that dominate our day-to-day financial decision-making
More Alan Greenspan Quotes
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And whatever their publicized angst over Saddam Hussein’s ‘weapons of mass destruction.
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This decade is strewn with examples of bright people who thought they built a better mousetrap that could consistently extract abnormal returns from the financial markets.
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Deficit spending is simply a scheme for the ‘hidden’ confiscation of wealth.
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If we are to remain preeminent in transforming knowledge into economic value, America’s system of higher education must remain the world’s leader in generating scientific and technological breakthrough, and in meeting the challenge to educate workers.
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If we were to do that we would increase the supply of skilled workers that our schools have been unable to create and as a consequence of that we would lower the average wage of skills and reduce the degree of income inequality in this country.
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Corruption, embezzlement, fraud, these are all characteristics which exist everywhere.
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Rules cannot take the place of character.
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It’s a bubble. It has to have intrinsic value. You have to really stretch your imagination to infer what the intrinsic value of Bitcoin is. I haven’t been able to do it. Maybe somebody else can.
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It seems superfluous to constrain trading in some of the newer derivatives and other innovative financial contracts of the past decade.
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I cannot conceive of a politically feasible solution to this problem which will overdo cutting the deficit, where overdoing means harming the economy. It might be technically possible, but it is not realistic.
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Yet deregulation set the stage for an enormous wave of creative destruction in the 1980s.
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Improvements in lending practices driven by information technology have enabled lenders to reach out to households with previously unrecognized borrowing capacities.
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I have one other issue I’d like to throw on the table. I hesitate to do it, but let me tell you some of the issues that are involved here.
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Capitalism is based on self-interest and self-esteem; it holds integrity and trustworthiness as cardinal virtues and makes them pay off in the marketplace, thus demanding that men survive by means of virtue, not vices.
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Gold stands in the way of this insidious process. It stands as a protector of property rights.
ALAN GREENSPAN